Shared ownership is another way to buy your own home. You buy a percentage, and pay rent on the rest. The housing association owns part of it — but you’re living there, you decorate it, and you decide when to sell.

Buying a percentage means a smaller deposit and smaller mortgage. It’s a sooner first step on the ladder for lots of people. Usually, you can also carry on buying shares, to own it 100%.

City Park West


Burgess Springs, Chelmsford, Chelmsford City, CM1 1QN

Shared ownership
2 bedroom homes
25% share from
£81,250
Full price
£325,000
Minimum deposit
£8,125
Monthly rent
£398
Monthly service charge
£98

Overview

Hurry! Final 2 bedroom maisonette remaining. Book your viewing now!

City Park West will offers a collection of brand new apartments available to buy with Shared Ownership. All properties are designed to a high-quality specification, with open plan living spaces and stylish kitchens with integrated appliances.  The development is ideally located to benefit from the city's superb transport connections, with Chelmsford train and bus stations both just a short walk away.


Local area information

Located a few minutes walk from Chelmsford Station, City Park West is ideally located for commuting. Fast trains to London Liverpool Street have a journey time of just 30 minutes, and run at 15-minute intervals throughout the day. In the other direction, a similar journey time will take you through open countryside to the Essex coast.

Bus links also couldn’t be easier, with the Chelmsford bus station opposite the rail station.For trips further afield, London Stansted and Southend airports are both about a 30 minute drive away.

From 2019, the Elizabeth Line (Crossrail) will run from a new eastern terminus at Shenfield Station, which has a journey time of approximately 10 minutes from Chelmsford Station.

  


Plot availability

Plot number 2 Eccles Court
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 25%
Minimum share price £81,250
Full market price £325,000
Monthly rent £559
Monthly service charge £178
Ownership Leasehold

Kitchen

Individually designed layouts. ‘Cashmere’ gloss units and putty-coloured resin countertops. Bosch stainless steel oven, touch control ceramic hob and stainless steel extractor fan. Bosch integrated microwave. Bosch integrated fridge freezer, dishwasher and washer-dryer. Stainless steel inset sink and stainless steel tap. Dark glass splashback.

Living area

Engineered oak wood flooring. Soft grey curtains.

Bedrooms

High-quality carpeting in ‘Tungsten’. Many have built-in wardrobes.

Bathroom

Fitted white bath with shower head. Duravit basin with chrome plated mixer tap. Duravit toilet. Full height ceramic wall tiles. Light grey ceramic floor tiles. Heated ladder towel rail with timer control. Shaver socket.

Concierge

Onsite concierge service. Dedicated property manager. The team is able to accept parcels, dry cleaning and food deliveries. The team regularly patrol the development and monitor the CCTV, for peace of mind. Optional services with an additional fee including cleaning services.

General

Underfloor heating. Video entry system. Sky Satellite system available. Smoke and heat detectors. BT telephone and internet connections. Many apartments have a private balcony.

Energy

LED low energy downlighters. Apartment ventilation and heat recovery system to help reduce bills. Triple glazed windows.


FAQ's

Min share price from: £81,250 for a 25% share
Full price from: £325,000
Minimum deposit from: £8,125
Monthly rent from: £559
Bedrooms: 2
Bathrooms: 1

There is only one available priced at £81,250 for a 25% share.

It’s the same as buying on the open-market but you’re buying a share of a property, so therefore pay a mortgage on the part you own.

An independent mortgage advisor can help suggest which type of mortgage might be best for you, based on your situation.

Leasehold, which is essentially the contract for the share you've bought.

It means you've got the right to keep your home for a certain number of years (usually at least 125), but the land belongs to someone else. Your lease also sets out how much you need to pay each month, your responsibilities while living there and all the details of your agreement with the housing association. Make sure you go through it and ask lots of questions.

Your solicitor can help you with this.

It all depends on your lease (your contract with the housing association) so check it thoroughly and ask questions before you buy.

Housing Provider

Notting Hill Genesis
Shared ownership
2 bedroom homes
25% share from
£81,250
Full price
£325,000
Minimum deposit
£8,125
Monthly rent
£398
Monthly service charge
£98